A prenuptial agreement is nothing more than a contract made prior to marriage. On the other hand a post-nuptial agreement is a contract after marriage. The prenup sets out certain terms regarding property, debt and other assets, in the event of divorce. While mainly used to protect an individual’s assets acquired prior to the marriage, other things can be contracted. This includes how property acquired after the marriage is handled in the event of divorce. Call our Tulsa prenuptial agreements attorney for more information regarding prenuptial agreements.
The important thing to note about the agreements is they don’t go into effect immediately upon a divorce filing. Like any other contract, they are contestable. Often times whether or not these agreements are valid becomes the main source of litigation in highly contestable divorces.
The best way to enforce the agreement in court is to provide full disclosure to the other party. This disclosure includes full disclose of all pre-marital debts and assets. This includes bank accounts, monetary accounts, personal property and other assets and liabilities. The drafting attorney will this incorporate this language and supporting documentation into the actual agreement. The agreement generally fails if a party knowingly fails to make full disclosure at a divorce proceeding. When drafting the prenuptial both parties should have separate attorneys advising them individually.
More Considerations in Enforcing Prenuptial Agreements:
Parties entering into agreements should also take caution in comingling assets, disclosed as protected property. For example, if one party owns a business as a sole proprietorship and brings in their spouse to the business, it no longer exists as a sole proprietorship. This would defeat the purpose of the prenuptial agreement, making that provision of the agreement invalid and potentially making the whole document invalid as well. Another potential hazard after entering into such an agreement includes the fact that money acquired during the marriage through employment is a joint venture of the parties. If parties use this money to invest in declared premarital property such as stocks, property or even debts; then again the potential risk declaring the agreement exists because the party seeking to enforce the terms of the agreement has not commingled this asset with the marital assets.
Contact a Tulsa Prenuptial Agreements Attorney:
If you have questions regarding a prenuptial or post-nuptial agreement, call our Tulsa prenuptial agreements attorney today. Get the legal edge you deserve while you get a Free consultation. Our attorneys can answer any questions you have regarding protecting your assets in the event your marriage ends in divorce.
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